Lian Beng proposes spin-off of subsidiaries for primary listing on Taiwan Stock Exchange

• Wholly owned subsidiary Lian Beng Engineering & Machinery and 90% owned Sinmix Pte Ltd to be spun off to achieve independent valuation and provide clearer credit profiling for its future business growth
• Group obtains pre-clearance from SGX-ST on spin-off
• Group to convene EGM to seek approval from shareholders; believes proposed spin-off can bring long term value to shareholders